Dallas Federal Reserve chief says recession is over

Yeah, right. Not in either the technical sense, of the economy growing again, or in the psychological sense, is Richard W. Fisher right, at least at this moment.

First, we have to wait until September to see if the economy had third-quarter growth. With “just” a 1 percent downturn in the second quarter, we may see positive numbers for the third quarter. Or, we may not.

But, until I see a full quarter of employment growth — INCLUDING the real unemployment numbers and discouraged workers — I know the non-financial, real recession still isn’t over.
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